For years, energy analysts had been anticipating an imminent decline in global oil supplies. Suddenly they’re singing a new song, and the expected boost in energy is predicted to provide the United States with a cornucopia of economic and political rewards, including industrial expansion at home and enhanced geopolitical clout abroad.

New York Attorney General Eric Schneiderman filed a lawsuit against three federal agencies, alleging that they have failed to properly study the impact of proposed regulations on “fracking,” a potentially dangerous process in which pressurized water and chemicals are used to dislodge oil and natural gas below the earth’s surface. (more)